(1) A trustee may exercise:
- (a) Powers conferred by the governing instrument;
- (b) Except as limited by the governing instrument, any other powers necessary or convenient to carry out the business and affairs of the statutory trust; and
- (c) Other powers conferred by this chapter.
- (2) Every trustee of a statutory trust, by acceptance of election or appointment as a trustee, including by service, shall be deemed thereby to have consented to the jurisdiction of the courts of the Commonwealth of Kentucky for any action by the statutory trust or a beneficial owner against the trustee.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 81, sec. 34, effective July 12, 2012.